Daily Crypto NewsEDITION #1019, 25 July

Russia. Crypto. Allowed, but not allowed, but necessary

Today is the Commemoration Day of Vladimir Vysotsky, a famous soviet singer. The guy wrote some cool songs. Frens, listen to "Ballad of Going to Heaven" to dive into this amazing culture. Well, while we wait for the market to recover.

Now, briefly about what's important. Because we value your time, and time is Moni.

What's up with the projects?

– So, crypto and Russia. The State Duma has approved a law banning mining in some regions of Russia.

Apparently, miners have consumed all the electricity.

Mining will only be allowed for certain legal entities that are listed on a special register. The law also supposedly prohibits advertising crypto to unspecified individuals.

In other words, Russia uses crypto to bypass sanctions and is the second-largest country in crypto mining, but cryptocurrency is sort of banned, but also not.

As always, we'll have to see how the courts interpret it; it's too early to say anything definite now.

The law is supposed to come into effect on September 1st.

– Famous economist Peter Schiff, who used to be a Bitcoin and crypto hater, commented on the dire economic situation.

He says the Fed needs to lower rates urgently. Otherwise, all markets will finally crash, and there will be tears and trouble. Well, the "tears and trouble" part is our artistic addition ;)

We agree. Drop the rates.